Domino Company ages its accounts receivable to estimate uncollectible accounts expense.Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $76,500 and $5,800,respectively.During Year 2,the company wrote off $4,640 in uncollectible accounts.In preparation for the company's estimate of uncollectible accounts expense for Year 2,Domino prepared the following aging schedule:

What amount will be reported as uncollectible accounts expense on the Year 2 income statement?
A)$6,132
B)$1,512
C)$7,292
D)$4,640

Question

Domino Company ages its accounts receivable to estimate uncollectible accounts expense.Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $76,500 and $5,800,respectively.During Year 2,the company wrote off $4,640 in uncollectible accounts.In preparation for the company's estimate of uncollectible accounts expense for Year 2,Domino prepared the following aging schedule:

What amount will be reported as uncollectible accounts expense on the Year 2 income statement?

What amount will be reported as uncollectible accounts expense on the Year 2 income statement?
A)$6,132 
B)$1,512 
C)$7,292 
D)$4,640

Quizplus · Accepted Answer

The Answer is A

Domino Company Ages Its Accounts Receivable to Estimate Uncollectible Accounts